Real Estate taxes versus Excess Real Estate Taxes in Home Office section

Forum|Forum|6 years ago
February 11, 2020
2 replies
1 view

In the Home Office section it asks about Real Estate Taxes. I am not itemizing, so do I leave that blank and just enter the amount in Excess Real Estate Taxes, or do I enter the same amount in both boxes?

DaveF1006

Level 15

You enter the full amount that you paid and leave excess real estate taxes blank. Te excess tax is only if you itemized on your return. For an example, IRS only allows an itemized deduction of $10,000. Now if your total amount of taxes paid were $15,000, then you would enter the extra $5000 as excess real estate taxes. In your case since you didn't itemize, just enter the full amount paid and leave the excess blank.

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CatStr

Level 2

There is no entry on this page for Excess real estate tax. I don't know yet if I have enough to itemize deductions. Do I enter the tax here, or later in Personal taxes paid? Will TurboTax cue me later if I've duplicated the entry? Or cue me to enter it as Excess later, if appropriate?

rdcosgayon

Level 2

I have this same question and can't seem to figure it out.

I didn't know if I was going to take standard deduction or itemize until the end. I itemized throughout each step, but in the end it was better to choose the standard. So do I go back an put $0 in the first field about property taxes paid, and instead put how much I paid for the entire home in excess real estate taxes?

When I get to the deductions part, what do I put for property taxes? I can't figure out if I subtract what I used for the home office or just put the entire home.

DianeW777

Level 15

Enter your real estate or property taxes in the home office as instructed next. Do not enter them a second time.

If you are itemizing deductions do NOT enter anything in the box for 'Excess real estate taxes'. The screen does explain that if you are NOT itemizing deductions then enter the amount in this box.
If you are itemizing deductions DO enter the real estate taxes on the screen 'Enter real estate taxes'. Do NOT enter them again in the deductions screen. TurboTax will carry the appropriate amount to your itemized deductions.

On the property tax deduction screen it states the following 'If you paid any property taxes that you haven't told us about and weren't for rental or business properties, enter them here.'

@rdcosgayon

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Styg88

Level 2

So what if I am itemizing deductions, but my real estate tax + state income tax together exceed $10,000 (and so the amount of the real estate tax that is deductible is capped). Do I enter any amount in the box for "Excess real estate taxes"?